Mobile Payment Service
Many users become more mobile than they trust their bank when it comes to managing money. mobile payment, also called M-payment or m-payment is at the forefront of this innovation, technological development and the creation of this element of trust and safety. Increased security has seen the use of mobile money transfer transactions and increasing the amount of goods and services purchased, and value.
Mobile payment is a new payment method and rapid adoption of the formula – especially in Asia and Europe. Instead of paying by credit card, check or credit card, consumers can use mobile phones to pay for a wide range of services and consumer durables like.
• Music, videos, ringtones, online games subscription or articles, wallpapers and other digital products.
• Transportation costs (bus, metro or train), parking and other services
• books, magazines, bills and consumer durables.
overall market for all types of mobile payments will grow by more than 600 billion U.S. dollars globally by 2013.
In a world dominated by network communication, comfort is key. Mobile Money provides a cashless, fast and easy for your customers to meet all their financial transactions, home, office or traveling around the world. From phone banking to Internet banking and mobile payment service now, the ever-changing landscape of financial services has been enhanced to include complete solutions to manage money from anywhere. Mobile Financial Services are the future, reducing the distance between banks and telecommunications, integration platforms sophisticated mobile networks and secure financial systems. Therefore, anyone who makes a payment via your mobile device takes a 100% safety and security for each transaction.
Mobile Payment is growing rapidly in recent years and will grow rapidly in subsequent years. Currently, banks MNO (Mobile Network Operator), solution providers, mobile service providers and others engaged in innovation to provide mobile financial services. mobile payment solution is usually based on SMS, WAP, WEB, USSD and RFID, users can develop various mobile payment services on a platform to make it easier to use and easy for subscribers in the meantime of new investment and avoid difficulties in the operation of the platforms to reduce capital expenditure by operators and OPEX.
With this solution, subscribers can make payments directly from their mobile phone at their convenience from a bank account or a mobile wallet to pay by credit card (use the financial institution), bills (utility company or consumer service provider). Mobile business for the exchange could be used for payments made by retailers to wholesalers to receive consumer goods, salaries, commissions and expenses for pensions of companies and governments to individuals and distributions of corporate welfare and individual governments individuals.
In developing countries where the majority of the population is unbanked, mobile-to-business commerce can play the role of direct funding in industrialized countries.
All interested parties, mobile operators, developers and manufacturers of payment systems, regulatory and standardization bodies and service providers are working together to make mobile payments a commercial success. They are aware that the market is gaining popularity and mass reach ‘critical’ mass. recent studies of mobile payment technologies in large scale has increased the applicability of mobile payments in more regions and more rapid growth in the future.
Benefits for mobile operators
• added value to your brand
• a source of recurring and regular income
• Increased loyalty and trust of customers
• Strengthen market share by offering more value-added services for customers interactive
Benefits for mobile subscribers
• Eliminates the need for cash loans
• The service is available where and when you need it
• Creation of convenience with real-time, secure, paperless transactions
• You can pay for goods and services at any time, anywhere
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